I still think Bitmap Brothers had no idea of what makes a good game, and when they made it right, it was pure luck. There are only 2 games from them which I think are really good: Speedball 2 and The Chaos Engine. Everything else goes from average (Xenon 1, Gods) to really dreadful (Xenon 2). But all their games look good and they had excellent relationships with the magazines, which is enough to make a game hyped (regarding the stuff with magazines, that's the only explanation I have for the mediocre Project-X getting a lot more of praise than the GODFULLY AWESOME Apidya)

And the fact they have produced at least 3 remakes of Speedball 2, and all of them sucked badly is a sign for me that they had no idea of what made Speedball 2 so good.

To say that when they got it right was pure luck is patently ridiculous. Taking one of your examples, The Chaos Engine, not only does that game have excellent graphics, but it also has an excellent soundtrack, brilliant multi layered level design with loads of replay value and even RPG elements for a variety of playable character types, to name just some of its qualities. If you think those things were the result of pure "luck" then you clearly don't know what you're talking about.

Speedball 2, again is the result of a skilled team at the top of their game producing a quality, carefully considered product. The reason that the remakes have never recaptured what made the original so great is because the original team are no longer together.